01, July 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The current buy signal is confirmed and strong, as Chinkou span entrenched above the price.

The goal for the upward movement is 0.9500. If the price passes the first target it will go to the resistance level 0.9600.

The upward movement will be as long as the price is above the Kijun-Sen, if the price is fixed below the Kijun-sen, the buy signal will be weakened and the further upward movement is likely to be canceled.

Chinkou Span is above the price that confirms the current buy signal and indicates a bullish sentiment of the pair.

Bollinger Bands indicator formed a fixed upward channel.
MACD is growing in a positive area.

Trading Recommendations

We recommend going short if the price rebounds from 0.9484 and the MACD signal line leaves the histogram. It is better to keep the position open until the signal line does not return back into the histogram. If the quotes can surpass 0.9484 we shall buy, having received a confirmation form a breakdown of 0.9521.